By Elizabeth Lowery
December 27, 2011

BP received its first permit to drill in the Gulf since the Deepwater Horizon spill. Chevron faces a $28 million fine for a spill off the Rio de Janeiro coast. The Ocean Energy Safety Advisory Committee plans to recommend a policy by year end to reform deep water drilling operations.

In the midst of these events, the debate about managing risk has converged on developing the "right" regulations. But developing the "right" regulations should not be the goal. The goal is to achieve the "right" actions.

To accomplish this, the energy industry must foster a culture of safety that reaches from the CEO to the people working on the offshore oil rigs. The "right" regulation may sound good on paper, but until it's turned into actions, it's just another set of rules in an already highly-regulated industry. The oil industry must create a culture of safety to ensure that the guidelines are brought to life every day in the actions of all employees.

Read more: GreenBiz